If you are skeptical about the payment providers offered by sportsbooks, you are on the right track. It means you know about the safety of sports betting. PayPal betting sites are getting more and more popular in Canada for being one of the safest payment options.
In this post, we will provide you with the ultimate betting guide that you can follow for you all your transactions at sports betting sites in Canada.
The best Betting Sites for PayPal in Canada
What is PayPal?
PayPal is an international payment provider based in the USA. Over the last decade, it has become one of the most popular financial networks in the world. Its name comes after the giants like VISA and MasterCard who reigned the world for years!
In 1998, Confinity started its journey to an unknown future. And Confinity is now known as PayPal Holdings Inc. or, PayPal to you punters!
One of the main reasons PayPal is so popular among punters and other individuals is that it completely eliminates the need for all the paperwork. You do not need any physical cards, cheques, or money orders to process your payments and withdrawals.
That brings us to PayPal betting. It simply means using PayPal at sports betting sites to either deposit or withdraw money. As there is no paperwork involved, your personal information is as safe as it ever was!
PayPal Betting in Canada
Soon after PayPal launched its IPOs, it started operating on a global scale. And for the betterment of all you punters, in Canada! PayPal soon reached millions of accounts across the world!
Fast forward to today, PayPal is one of the most common options selected by the punters. And if you are used to sports betting, there is a huge chance that you have PayPal at least once in your life for the transactions!
Why Should You Choose PayPal Betting in Canada?
One of the biggest reasons behind PayPal’s popularity is safety. And you know it very well. It is not like the other payment providers are not good enough, PayPal just has an edge over the competitors.
The first prominent feature is the fact that you do not need any paperwork for PayPal. All of your transactions will be taken care of from the online account. However, you do need to verify your identity to unlock all the functionalities and start online banking. But that is about it.
Then comes the popularity. Our first point, which was safety and this one, popularity goes hand in hand. The popularity of PayPal has led to hundreds of millions of users worldwide. And it automatically pushed online sportsbooks to include it as an option. It is true for Canada as well.
Almost all sports betting sites in Canada now offer PayPal betting. Let us take a brief look at the pros and cons of using this amazing payment option at online sportsbooks in Canada.
PayPal Betting SItes- Pros and Cons
- Safe and robust transactions
- Accepted by almost all online sportsbook in Canada
- Deposits are instantly credited
- Elimination of traditional paperwork
- Your personal data is safe
- Easy transfers to bank accounts
- Fees apply to some cases
- Could improve on customer service
PayPal Betting Sites Canada- Opening an Account
The first order of business for you to do PayPal betting is to open an account. The process is very easy and straightforward. You can simply go to PayPal’s official website and click on the sign-up button. You will be redirected to a form where you fill-up the necessary information.
Once the information is provided, all there is left for you to do is email verification. When your account is ready to go, the verification process starts. You must provide proof of identity to start transferring money around. It might be your passport, your National ID card, or your bank credit card.
The verification process usually takes a few business days. You might even have to face a customer support agent to clarify any confusion. Once your account is completely verified, you can go on about adding your bank accounts, credit cards, and making online payments.
Account Deposits for PayPal Betting Sites
Congratulations on getting your account verified. Now, you are almost ready to start betting at your preferred online sportsbooks in Canada. But before that, you need to transfer some money to your PayPal account.
For account deposits, go to your PayPal account and select the deposit option. You should see all the options you added earlier like your bank account, your credit card, or debit card. You can specify the amount you want to deposit. And did we mention that you can select from over 25 currencies for PayPal betting?!
Then you can proceed normally. You should receive a verification SMS from your bank or credit card provider to greenlight the transaction. If all went all, you should now end up with the specified amount on your PayPal account.
Account Withdrawals with PayPal in Canada
Withdrawal is more or less the reverse process of depositing into your account. You can withdraw to any of the selected options to transfer money. It might be your bank account, your credit card, or any other local payment options that PayPal supports.
For withdrawing, you can find a clearly labelled withdrawal tab on your account page. You can also see the total balance of your account at any given moment. Just specify the amount you want to withdraw and proceed like before!
One of the main reasons behind the popularity of PayPal betting in Canada is the easy withdrawals. As most of the online sportsbooks offer PayPal as a withdrawal option, more and more punters like you are going for PayPal instead of other payment providers.
Making Deposits for PayPal Betting Sites
By now, you should have a clear idea of how PayPal works. But how does it translate to using it for all your sports betting needs?
To start punting using PayPal, you need to select an online bookmaker that you trust. Once you have an account on the bookmaker’s platform, you should find a payment section. Some websites have subsections of deposits and withdrawals under the payments page. And some providers use the same page for both deposits and withdrawals.
Whatever the case is, you should easily find the PayPal option for both deposits and withdrawals. As we are covering deposits, for now, let us go with it.
After you click the PayPal option, you can decide on how much you want to deposit into your online sportsbook account. It is very important for PayPal betting that you do not go over your limits! Responsible gambling is a lifestyle you should follow very carefully.
After you complete the part on the bookmaker, you will be redirected to your PayPal account to verify and grant the transaction. Once it is all done, you should instantly see the deposited amount on your sportsbook account.
Let us assume that you deposited money into the sportsbook and placed some awesome bets on your favourite sports! And it all turned out great for you. Now, it is time to get your hands on the money you won.
To start the withdrawal process, you need to navigate to the previously stated payment page. Select withdrawal and select PayPal as your withdrawal method. You can now submit a withdrawal request on the sportsbook.
Now you wait. It usually takes a little bit of time for the bookmakers to process your request and transfer it to the merchant. In this case, it is PayPal. Once the request is processed from the sportsbook, PayPal needs to verify the transaction as well. If it all goes well, you should get the money on your PayPal account within 3-5 business days.
PayPal Betting Fees in Canada
As one of the major electronic payment providers, there are some fees you will come across while using PayPal for sports betting.
Let us start with opening the account. For all the countries where PayPal operates, opening an account is completely free. Whether you do it for payments, as an international gateway or for PayPal betting, you can open the account at no cost.
Then comes international payments. Just because you are placing bets on sportsbooks from Canada does not mean the sportsbook is based in Canada. So, it might be an international transaction. And international transactions imply a charge on PayPal. It completely depends on where your money is going or coming from.
Transferring money to your bank account from PayPal is usually free. But there is a 1% charge for instant transfers.
Advantages of PayPal Betting in Canada
We have reached the interesting part of the content. Here, you will know exactly why we fuss so much about PayPal. Let us take a look at the advantages PayPal offers to all the punters!
So, how safe is PayPal for sports betting? The answer is, beyond your imagination. Being a major financial services company, PayPal invests a lot to ensure your safety. All of your information and transaction history is secured using top of the line encryption technology.
It is very obvious that hackers around the world target PayPal considering the humongous number of transactions happening every day. If you do some research, you will be astonished to know how many fraudulent transfers PayPal stops every single of those days!
And you need something like this to protect your money. Especially, when an industry like sports betting is involved.
Easy to Use
For any modern-day service, it is very important that it is easy to use. Considering the huge array of options the general people get for anything now, ease of use is a must. Otherwise, the service will lose the customers forever!
Lucky for you, using PayPal is just like a walk in the park. All you have to do is open an account and follow the steps. All of the features so very intuitive and easy to use that a 70- year old grandma can start PayPal betting at any moment! The account history is always there for you to check whenever you want.
Another big reason for the popularity of PayPal betting to go wild is availability. As we have already mentioned, almost all online sportsbooks in Canada accept PayPal. More users mean more exposure and more transactions. It automatically makes PayPal a safer alternative with added safety.
As for Canada, PayPal has been around here for long enough to build a hefty customer base. Canadians use PayPal for their daily needs as well. If you consider sports betting as one of your daily needs, you are in luck!
It is one of the unique features of PayPal betting that we like very much. Anywhere PayPal operates, it gets fully licensed and regulated by the local financial authority. So, for Canada, PayPal has all the necessary licenses to offer services to the punters! It means your complete safety!
Disadvantages of PayPal Betting in Canada
Nothing is perfect in this world. So is not PayPal. So, let us look at some of the drawbacks you may face while using it for your punting needs.
A Little Unavailability
While you can find PayPal in almost all sportsbooks nowadays, we cannot say 100% of them have it. And it does matter when you really like a bookmaker for the odds but cannot find PayPal on the payments list. As heartbreaking as it is, it is just the way things work.
It is a very common thing PayPal users around the world face. PayPal is notoriously known for freezing accounts without prior warnings. While it is done for your safety, a little heads up is always appreciated!
Huge Phishing Network
As odd as it may sound in the third decade of the 21st century, phishing is still around. And PayPal is one of the largest targets for phishing scams. The wide customer base makes it the perfect target for hackers to milk money out of users. While the PayPal platform is safe from all of this, you are not!
So, do not share your PayPal account details with anyone. Unless you contact PayPal support first, no one will ask for your information eagerly.
Customer support is an area where PayPal has a little to improve on. In our opinion, the team that the company has in place is not enough considering the huge PayPal betting industry. It is true for Canada as well as for all the other countries where PayPal operates.
Betting with PayPal is one of those gray areas where you might or might not face additional charges. For example, bank transfers are free, but not for instant transfers. For those who do not know better, they might end up paying a lot of money in fees when it could be easily avoided.
Tips for PayPal Betting in Canada
PayPal is a simple payment provider for online bookmakers in Canada. You could not possibly need any skills to know how to use it, could you? Well, the answer is a little more complicated. You might not need any skills to use PayPal, but you should certainly keep an eye on some things before you move on.
One of the major areas where punters go wrong. Selecting the wrong sportsbook! If you did not know already, any gambling facility, whether online or physical, requires licenses from the relevant authority to operate legally. These authorities ensure that all the offerings are fair for the consumers.
So, whenever you visit an online bookmaker in Canada, do not jump into PayPal betting. Rather, go to the bottom of the website to see the license information listed. You can even check the license number and validate it on your own.
Give the T&C a Read
As tedious as it may sound, you should always read the terms and conditions before PayPal betting. Because the majority of the sportsbooks have conditions regarding the payments. They are not there to rip you off. Rather, it is how the gambling industry works.
You should specifically look for bonus offers regarding PayPal. Some sportsbooks may offer additional bonuses if you deposit and withdraw through PayPal while others might exclude you for doing so. It completely depends on the operator.
So, do not be too excited to see a hefty welcome bonus and the option to deposit via PayPal at the same time. Read the T&C to check whether you can get the welcome bonus after depositing with PayPal or not.
Understand the Fees
You already know about the fees PayPal charges you for different transactions. But that is not our concern here. What you need to look for are the fees that the sportsbooks might charge you. In some cases, bookmakers charge an additional fee because they do not have a direct partnership with the payment provider. They need the fee as operational costs.
So, when you are at the T&C page, give the deposits and withdrawals sections a read. See if there is an additional fee required for PayPal betting at that particular sportsbook in Canada.
PayPal Betting Canada- FAQ
Being one of the largest payment providers in the world, PayPal offers state of the art security measures for your protection. Also, the features are very carefully designed to meet the needs of punters like you. So, you should definitely give it a try when you visit an online bookmaker.
If you have been following our guide so far, you must have seen some of the best sportsbooks Canada can offer you. All of them feature PayPal. And all of them made our list after severe scrutiny. We have gone through all the aspects to make sure they arere completely safe for you to start betting.
You may and you may not. It is a decision depending on the bookmaker you choose. In most cases, sports betting platforms are neutral towards PayPal. They do not offer neither exclude players from bonuses. Please refer to the Terms & Conditions of the specific bookmaker in question.
Being a Canadian punter, you may come across fees here and there. It depends on how you utilize PayPal. If you are going for normal bank transfers, they are free. But if you are going for instant transfers, there is a small fee. It varies from platform to platform as well.
To make deposits, you must navigate the payment page of the online bookmaker. You can select PayPal as your deposit method and the website will guide you through the process. You just specify the amount you need to deposit.
A Few Words to Wrap Up
So, what are your thoughts on PayPal betting in Canada? Do you have a clear understanding now of how PayPal works? We really like this payment provider for sports betting because it is very robust and completely free of any ties. You can make deposits and withdraw your money whenever you want. You can find PayPal in almost all Canadian sportsbooks. What more could want as a punter?